Other than eur/usd, what’s the second best currency pair ?
3 easiest currency pairs are EUR/USD, USD/JPY and GBP/USD.
EUR / USD – most popular couple with the lowest spread. This pair is an ideal choice for beginners because it responds very well to simple rules and technical studies, which traders learn in the beginning. EUR / USD is not too volatile under normal market conditions, and therefore can be safely traded with less risk and poet stops.
From the perspective of fundamental Euro Dollar gets much of the global economic coverage, it is an easy to follow and monitor pair.
USD / JPY currency pair is another good. It often has the same low spread as EUR / USD, which makes it attractive to investors. USD / JPY pair features a lot smoother trends, compared to other couples, because that makes trading in USD / JPY trend during a real joy, not to mention the fact of earning profits alongside.
The behavior (trend) of the USD / JPY pair can easily be compared and checked with other / JPY pairs, for example, EUR / JPY, CAD / JPY or GBP / JPY.
GBP / USD – this currency pair implies large movements, it is possible to bring more pips in a simple movement of EUR / USD or USD / JPY. It is often used for a couple of breakout trading. However, the risks here rise in proportion to the odds. GBP / USD requires further away placed stops. It belongs to the volatile group pairs.
There is also plenty of market research and analysis available for GBP / USD, making it favorable to the traders.
Each trading system would behave differently with different currency pairs. Stops and Profit levels, risks – everything must be calculated and measured for each couple when you’re looking to get the best performance from each trade.
Other than eur/usd, what’s the second best currency pair ? – Easiest currency pairs for forex trading.